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FNB's Easy, Aspire, and Premier accounts offer the best value for money: Survey

FNB's Easy, Aspire, and Premier accounts offer the best value for money: Survey
09-02-23 / Chris Smit

FNB's Easy, Aspire, and Premier accounts offer the best value for money: Survey

Johannesburg - FNB's Easy PAYU, Fusion Aspire, and Premier Fusion bank accounts offer the best value for money to customers in South Africa, and this is according to the Solidarity Bank Charges Report 2023.

The objective of the report is to give consumers a comparative overview of the transactional accounts that the biggest banks in South Africa have to offer. This year’s report shows that FNB is leading on price and value in several categories, including entry-level and middle-income accounts.

When comparing entry-level bank accounts for what Solidarity describes as "fairly basic banking needs," the FNB Easy PAYU account, which is still only R4.95 per month, is the cheapest bank account in the category and offers by far the greatest number of free transactions, including one free eWallet payment per month. Solidarity says this "comfortably" puts FNB’s Easy PAYU in the lead.

Customers who use the FNB Easy PAYU account also get rewarded with weekly grocery vouchers when they swipe their cards at Shoprite, Checkers, or Usave. This reward enables them to pay only R5 for basic food items like bread, milk, and canned foods valued at R15.

For "middle-class" customers, the survey states that "if one looks at the larger offering of the various accounts, FNB’s Fusion Aspire account towers above the others, with a cost of R99." FNB's Fusion accounts offer customers simplified everyday banking with a linked credit facility to help manage unexpected expenses.

Solidarity says the fact that the monthly fee includes all other transactions makes the account quite unique. Fusion Aspire also offers a 50% discount on the monthly fee of R99 if the spouse has the same account.

For the second year in a row, FNB Fusion Premier was the winner in the "higher middle-class income" comparison. The survey found that the decisive factor was the number of free transactions being offered on the account for a cost-effective monthly account fee of R230.

Similarly, Fusion Premier offers a linked credit facility to help customers manage unexpected expenses. Customers also get a 50% discount on their spouse or partner's monthly account fee, and there are no monthly account fees for your children under the age of 25.

The findings demonstrate FNB's commitment to providing affordable and accessible market-leading products and value propositions that seamlessly integrate customer-centric advice for its customers.

The bank remains at the forefront of innovation, and recently, its popular appeal was recognised with an accolade for the "Strongest Banking Brand in the World" by Brand Finance. Whether customers are looking for a bank account for everyday use or more comprehensive services with a range of features and benefits, FNB has an option that will suit their needs.

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